The Nigeria Deposit Insurance Corporation (NDIC) has announced a ₦24.3 billion second liquidation dividend for depositors of the defunct Heritage Bank with balances above the insured limit of ₦5 million. NDIC made the declaration in a statement issued on Sunday by its Head of Communication and Public Affairs Department, Hawwau Gambo. “It is in continuation …
First HoldCo Plc has announced a series of board appointments across its non-commercial banking subsidiaries. The parent company of First Bank of Nigeria Limited disclosed the development in a statement filed with the Nigerian Exchange Limited on Friday. It said the appointment is part of a broader strategy to strengthen governance and position its businesses …
The Nigeria Deposit Insurance Corporation (NDIC) has significantly shifted its approach to handling failed banks, marking a crucial step towards reducing the risks of moral hazard in the country’s financial sector. This shift is particularly evident in the recent liquidation of Heritage Bank and other recent failures, such as Aso Savings and Loans and Union …
Paramount Skydance reiterated on Thursday that its $108.4 billion bid for Warner Bros Discovery (WBD) is superior to rival Netflix’s offer, arguing that the cable spinoff central to Netflix’s proposal holds little value. Paramount’s amended offer, rejected by Warner Bros’ board on Wednesday, included $40 billion in equity personally guaranteed by Oracle co-founder Larry Ellison …
First Bank of Nigeria (FirstBank) has successfully met the ₦500 billion minimum capital requirement following the completion of a series of strategic capital-raising initiatives. The First HoldCo Plc, the parent company, disclosed this in a statement issued on Monday and signed by its Group Company Secretary, Abiola Baruwa. It stated that meeting the Central Bank …
Fidelity Bank Plc said it has met the ₦500 billion capital requirement for an internationally licensed bank and is now awaiting approval from the Central Bank of Nigeria (CBN). The bank made this known in a statement on Tuesday, January 6, signed by its Company Secretary, Ezinwa Unuigboje. It hinted that following approvals from the …
The Chairman of First HoldCo Plc, Femi Otedola, has called on the Central Bank of Nigeria (CBN) to increase the minimum capital threshold for international banks to ₦1 trillion. The billionaire businessman and serial investor made the call in a statement on Friday. He believes that Nigeria’s ambition to build a $1 trillion economy by …
The Nigerian stock market kicks off the year in the green on Friday, January 2, with ₦561.55 billion gained by investors. The positive momentum maintained on the floor of the Nigerian Exchange Limited (NGX) saw the market capitalisation rise to ₦99.94 trillion from ₦99.38 trillion, as the market ended on Wednesday, December 24, 2025. Similarly, …
Fidelity Bank Plc has appointed Amaka Onwughalu as non-executive director and chairman of its board, following the completion of Mustafa Chike-Obi’s tenure. The bank announced this to the investing public on Friday, January 2, noting that Chike-Obi's tenure ended on December 31, 2025. "The Board has approved the retirement, which is in accordance with the …
At the close of trading on Monday, December 29, the Nigerian stock market’s All-Share Index (ASI) rebounded to a 50 per cent year-to-date return. It marked its first recovery to that level since October 28, 2025. The upward trajectory saw the ASI rise by 0.55 per cent to close at 154,389.53 points. Similarly, the market …
